Advice for protecting portfolios

NEW YORK – Interest rates are definitely on the way up, and hawkish remarks from Federal Reserve Chairman Alan Greenspan have some on Wall Street thinking they might keep climbing for some time.

If you’re wondering how to protect your portfolio from the market declines usually associated with rising rates, you could take a hint from the past: Large and midcap companies have fared better than small caps, and growth seems to have an edge over value. Information technology and health care have been top performers, while telecom and utilities have fallen out of favor.

The Dow Jones industrials ended the week up 167.28, or 1.6 percent, finishing at 10,410.10. The S&P 500 index added 13.97, or 1.2 percent, to close at 1,136.47.

The Nasdaq gained 21.25, or 1.1 percent, during the week, closing Friday at 1,999.87.

The Russell 2000 index, which tracks smaller company stocks, closed the week 1.37, or 0.2 percent, higher, at 569.12.

The Wilshire 5000 Total Market Indexended the week at 11,045.95.